<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=183154879077085&amp;ev=PageView&amp;noscript=1">
Scura, Wigfield, Heyer, Stevens & Cammarota Blog

Feeling Tricked by Your Insurance Company After an Accident in New Jersey?

[John J. Scura III, Esq. explains what to do if you are feeling tricked by your insurance company after an accident in New Jersey]

I wrote a blog on the worst tricks insurance companies use in trying to deny people fair money for their claims after an accident.  As a follow up, I wanted to explore what to do if insurance companies use one of these tricks on you and how to best protect yourself going forward:

Understanding your FICO and CreditWise Credit Scores

All consumers should be aware of their credit score by checking their credit report.  Amongst other benefits, periodically checking your score ensures that fraudulent activity is timely recognized and can also help in planning for indebtedness from a car loan, mortgage, or student loan.  Most online credit cards or banks allow the account owner to obtain their credit score for free.  Some credit card companies and banking institutions use different credit score calculating models such as FICO or Creditwise.  If your credit card company or bank does not offer this free service, a free credit report can be obtained at AnnualCreditReport.com.  No matter which direction a consumer goes in, they should always stay on top of their credit status.  

How Common is Debt in America?

The Federal Reserve Bank of New York reports that as of the second quarter of 2017, the American household debt load has reached nearly $13 trillion. Approximately 80% of Americans are in debt today.

Unfortunately, many Americans also have very low savings balances as well. The combination of high debt and little savings can spell disaster for many Americans. However, the type of debt that you have may determine whether bankruptcy or some other financial workout with your creditors is the right option for you if your debts become unbearable.

Winter Slip and Fall Accidents in New Jersey

With New Jersey in the middle of its winter season, injuries due to ice and snow conditions can occur because of the irresponsible actions of property owners and landlords. Commercial and multi-complex residential buildings commonly fail to exercise reasonable care by promptly removing snow and ice following a snowstorm. A victim of a slip and fall accident may secure valuable compensation for their medical expenses, lost wages, pain and suffering, and ongoing disability.

The Effect of Serial Filing on the Automatic Stay

When an individual files a bankruptcy petition, the automatic stay prevents creditors from trying to collect debt. Generally, this means that a creditor cannot contact the individual, repossess assets, garnish wages, foreclose on property, or sue the debtor. To view which actions are prohibited by the automatic stay, click here.

However, there are limitations to the protections afforded by the automatic stay if an individual previously filed for bankruptcy. Bankruptcy Code Sections 362(c)(3) and (4) were enacted by Congress in 2005 to limit the duration of the automatic stay afforded to serial filers.

Things to Consider Before Filing Chapter 13 Bankruptcy in New Jersey

If you are struggling financially and cannot find an easy way to pay off the debts you owe, filing for Chapter 13 bankruptcy in New Jersey may be the best option for regaining control of your finances. However, before you begin the bankruptcy filing process, it is important that you consider all of the pros and cons. Filing for Chapter 13 doesn’t have to be a frightening affair but it isn’t something that should be taken lightly either. The bankruptcy process can affect your future credit, your self-image and your reputation but it can also improve your short-term quality of life. Are you considering Chapter 13 to put a stop to harassing phone calls and letters from your creditors? Be sure to weigh out the benefits and drawbacks with our experienced bankruptcy attorneys before you file.

Are All Debts Dischargeable in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy can be an extremely helpful way to get back on your feet financially after you have been struggling. It allows you to “start fresh” and try again. In that process, most of your debts can be forgiven entirely, which means that those harassing phone calls and intimidating letters will stop coming. It results in significant freedom for many individuals and companies that are stressed financially.

Reversing the Roles – Forced Into Involuntary Bankruptcy

An involuntary bankruptcy is one that is filed by creditors and not by the person or entity that owes the money. The filing of a petition for an involuntary bankruptcy is an extreme remedy with serious consequences for both the debtor and the petitioning creditors[1]. For the creditors, if the petition is found to have been brought in bad faith, the creditors may be shouldered with paying the litigation costs of the debtor which were incurred in dismissing the case.  And of course for the debtor, it must now find a way to meet its financial obligations under the heavy hand of the Bankruptcy Court. 

Saving Your Home After a Sheriff Sale

The foreclosure process can be complicated and seeking legal representation is always recommended.  Sometimes borrowers ignore the foreclosure timeline until their property is sold at a sheriff sale.  The borrower, however, should have been properly served with the notice of sale.  The sale is the last step in the foreclosure process and effectively divests the ownership interest into the sale purchaser.  What happens if the borrower seeks to save their property after the sale? This is a possibility, but places a large burden on the homeowner.   

Famous People Who Have Filed Bankruptcy

People often feel embarrassed or ashamed when filing for bankruptcy. However, it's more common than you would think. High profile athletes, musicians, actors and entrepreneurs regularly file for bankruptcy, often as the result of unforeseen circumstances or an unsuccessful business venture. Serious illness, family tragedy and business deals gone bad can send your life and finances into a tailspin. Filing for bankruptcy is never an easy decision, but sometimes it's the right one.

Need Help? Contact Us Today!


Let our Accident Checklist think for you- get your copy

Feeling Trapped by Your Debt? Download your Free eBook